(Yicai Global) June 4 -- Nio’s shares jumped in pre-market trading in New York after the Chinese new energy vehicle maker said sales tripled last month from a year earlier to reach a historic high.

Nio’s stock price [NYSE: NIO] gained almost 7.9 percent to USD6.04 before market opening. It surged more than 19 percent yesterday after analysts at Goldman Sachs said the firm’s liquidity risks have started to abate and its cash burn has narrowed based on a 37 percent increase in deliveries between January and April.

Total sales stood at 3,436 vehicles in May, the Shanghai-based company said in a press release today. That included 2,685 ES6 models and 751 ES8s. As of May 31, Nio had delivered a total of 42,342 cars, 10,429 of which were delivered this year.

“In May, we achieved record-high monthly deliveries,” founder and Chairman William Li said. “We will further increase our production capacity and expand our sales network to support future growth.”

Nio expects to achieve its delivery target for this quarter while improving its gross margin and narrowing its operating loss, said Chief Financial Officer Steven Feng. The firm expects to deliver 9,500 to 10,000 vehicles in the quarter, with 6,591 vehicles already delivered in April and May.

Editor: Peter Thomas